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h&r block loves it but it is a news around the neck of the american economy. every page has something in it that sounds good but look what it adds up to 27 spending. the welfare state. people say take care of people. unintended consequence? >> you heard those most vulnerable. the welfare state is like flypaper. there are shocking figures showing as the income rises to live the american dream, you start to get taxed on one end the government takes away benefits on the other end those who lose a living standard with $10,000 more in salaries. >> they play more in taxes and lose government benefits. >> earned income credit, of welfare benefits, medicaid, food stamps, housing assistance, you're on a treadmill. you are running harder and it goes backwards. think of the mmssage that since. they think i will not work as hard or get disability. john: in pennsylvania with $29,000 of income you are better to stay there than earning 55,000. >> i hope that is the exception. don't earn more because you lose the safety net. maybe that did not have disincentive we would not h
h&r block loves it but it is a news around the neck of the american economy. every page has something in it that sounds good but look what it adds up to 27 spending. the welfare state. people say take care of people. unintended consequence? >> you heard those most vulnerable. the welfare state is like flypaper. there are shocking figures showing as the income rises to live the american dream, you start to get taxed on one end the government takes away benefits on the other end those...
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chars: the economy is scary, but this is even scarier. not the zombies, but the government spending taxpayer government spending taxpayer money on 5-hbut some people wondered oveabout caeine.imes. the executive director of the center for science in the public interest said, "overdoing caffeine alone is actually pretty difficult to do. someone would have to make an effort to consume 40 or so 200-mg caffeine tablets." or... about this much 5-hour energy... in a single day. we recommend... not more than two per day. yeah, when we first came out with the product... you know, i made sure of one thing. if my family wasn't going to use it... if it wasn't good enough for my family if it wasn't safe for my family... i'm not gonna put it out there. i take it almost every day. and twicwhen i play tennis. this is our criteria that we have to be safe... if we're notilling to do it ourselves... we're not asking anybody else to do it. we're not gonna sell it. so, that's our approach to safety... that is a higher standard you can get. charles: paying for
chars: the economy is scary, but this is even scarier. not the zombies, but the government spending taxpayer government spending taxpayer money on 5-hbut some people wondered oveabout caeine.imes. the executive director of the center for science in the public interest said, "overdoing caffeine alone is actually pretty difficult to do. someone would have to make an effort to consume 40 or so 200-mg caffeine tablets." or... about this much 5-hour energy... in a single day. we...
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it is part of what we need to succeed in this global economy. and i'm going to fig for every young person is willing to work hard to get an education. gerri: should everyone have a college degree? >> if i was the president, i think you might has well said let me be clear. every student should start with 30,000 dollars of debt and maybe a bankruptcy. it's absolutely asinine. the current system we have in place is nothing short of immoral. we are putting students that it is economically imperative for them to get an education, but then we are putting them in that situation a situation was. not only are there no jobs, starting with 30,000 dollars of debt is not a way to start your life gerri: let's get marked in him. i'm going to give you more time. we would like to get more time. mark, is it asinine to these kids start their lives with so much debt and give it to everybody? >> well, college benefits -- the students who have college degrees earn 70 to 80% modents e degrees earn 70 to 80% more. the federal government gets twice as much federal incom
it is part of what we need to succeed in this global economy. and i'm going to fig for every young person is willing to work hard to get an education. gerri: should everyone have a college degree? >> if i was the president, i think you might has well said let me be clear. every student should start with 30,000 dollars of debt and maybe a bankruptcy. it's absolutely asinine. the current system we have in place is nothing short of immoral. we are putting students that it is economically...
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the fluctuation certainly correlates with what the economy is doing. neil: mocks my, baby, i'm afraid the economy is going to taint ♪ neil: we paid a lot for that. and you have to think about this. sieging dollars from bills to points, that's what congress wants to do to save cash, what are followers are having some better ideas to really cut our debt. work on something that will save money, not spend more on ridiculous -- ridiculous projects. stop all stimulus funds that do not help create private sector jobs are make companies more competitive globally. in foreign aid until we have money to spend, if that ever happens again.
the fluctuation certainly correlates with what the economy is doing. neil: mocks my, baby, i'm afraid the economy is going to taint ♪ neil: we paid a lot for that. and you have to think about this. sieging dollars from bills to points, that's what congress wants to do to save cash, what are followers are having some better ideas to really cut our debt. work on something that will save money, not spend more on ridiculous -- ridiculous projects. stop all stimulus funds that do not help create...
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and a real problem in the economy,nhich case, barac obama will not escape the historic reputation of the democrats' herbert hoover. neil no president inves a recession on his watch, assuming that is what happens if you get to this cliff. that is what happens. so, he must know, thehite house must know, the predent must know that is a very big gamble. >> it is. he realizes he is move immediately to restore tax cuts to 98%, secondly, he is not withou pressure. he has his you mentioned them the black caucus, unions, liberals areesaying, look we didn't win this elect too gut the programs medicare, and medicaid and social security, obamacare. >> you are right. there is zero appetite for that. but here is what worries me. i hope i am misreading polls and numbers, a lot saying go after the rich. very little appetite for addressing spending. i wonder whether the country is shifted to -- yeah we like government, the more the better, shut up. >> you areargely correct. the point is, weave 48 or 49% of country getting direct benefits from government, and8 or 49% paying no tes. think of the republ
and a real problem in the economy,nhich case, barac obama will not escape the historic reputation of the democrats' herbert hoover. neil no president inves a recession on his watch, assuming that is what happens if you get to this cliff. that is what happens. so, he must know, thehite house must know, the predent must know that is a very big gamble. >> it is. he realizes he is move immediately to restore tax cuts to 98%, secondly, he is not withou pressure. he has his you mentioned them...
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rowe price, we unrstand the connections of a colex, global economy. it's just one reason over 75% of our mutual funds beat their 10-year lipper average. t. rowe price. invest with confidence. request a prospectus or summary prospectus with investment information, risks, fees and expenses to read and consider carefull before investing. stuart: ed asner does not seem party -- sorry about a cartoon he voiced for the california teachers' union showing a rich guy urinating on poor people. producer sean hannity asked about it. >> you remember the video? >> they agreed to do it. i approve this message. >> the most controversial, talk about things trickling down like ridge people peeing on poor people. >> should be reversed. >> you don't remember -- >> you have any money? stuart: isn't that cute? charles have a reaction to ed asner. charles: should had the initiative and with tommy chong in the last bit. he was really slurring his words. he is one of these guys who is proud of his handiwork i don't care what it is and he proved it. it is pretty despicable. st
rowe price, we unrstand the connections of a colex, global economy. it's just one reason over 75% of our mutual funds beat their 10-year lipper average. t. rowe price. invest with confidence. request a prospectus or summary prospectus with investment information, risks, fees and expenses to read and consider carefull before investing. stuart: ed asner does not seem party -- sorry about a cartoon he voiced for the california teachers' union showing a rich guy urinating on poor people. producer...
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this impacts the economy. it is creating havoc with our economy and state. if they do not get it resolved, not only do we not have growth money which we are anticipating right now in utah, we could take as much of a $500 million loss in revenue streams because of not getting revenue. we are also saying that states are willing to do our part. we understand this will be a shared sacrifice asked you have to look at spending cuts. states are willing to do more with less. we are asking for more flexibility. it has been a common theme. take away some of the strings and we can do more with less. >> what exactly did you say to the president? >> well, and our case, we are here, not just as individual governors, really, our focus today was not to endorse a specific land, nor to dismiss a specific plan. we think it is important that we have a seat at this table and have points in it. concerns about the economy, concerns about the finances. really offering suggestions that we will follow up on as an organization. ways that we continue to highlight what is good for our s
this impacts the economy. it is creating havoc with our economy and state. if they do not get it resolved, not only do we not have growth money which we are anticipating right now in utah, we could take as much of a $500 million loss in revenue streams because of not getting revenue. we are also saying that states are willing to do our part. we understand this will be a shared sacrifice asked you have to look at spending cuts. states are willing to do more with less. we are asking for more...
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we're in a down economy. you've got thousands and thousands of people dependinggon you to work this out. let's get back to work, guys. let's make this economy grow. melissa: is there something else that could be done in the long run? people that are shipping through this port get burned is there another option? because some of them made the argument, 40% of the cargo in this country moves through this port. no matter what people shift through this lane giving the people that are on strike a whole lot of leverage? >> good point. we're always concerned by diversion to other ports. we're concerned about diversion to prince rupert where the u.s. gets no money out of movement of goods coming to the united states. but still the southern california area is suuh a large consuming area it will always have a decent percentage of cargo coming through here but the incremental cargo is significant. if you divert 10% of the cargo away from los angeles it would be significant in the loss of jobs in southern california alone
we're in a down economy. you've got thousands and thousands of people dependinggon you to work this out. let's get back to work, guys. let's make this economy grow. melissa: is there something else that could be done in the long run? people that are shipping through this port get burned is there another option? because some of them made the argument, 40% of the cargo in this country moves through this port. no matter what people shift through this lane giving the people that are on strike a...
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first port workers striking in los angeles and long beach california for 7 days in a row, costing the economy a billion bucks a day, some cool gadgets have you been wanting for christmas they may not make it off of the ships in time. on whether the unions might be going overboard. what is going on here? and what do you see happening? >> i don't know what is going on with unions over the hidays, but i tell you after thanksgiving, and bakers union killed the twinkie. and snarled traffic at lax the day before thanksgiving, now uscw on walrt, now, that was thanksgiving, now this christmas you have the longshoremen's union, tclerical workers going on strike, and shuts down two of the busiestports in the cntry. neil: there are many beefs they ve. but to bring people up to speed, is that among their beefs is this issue of replacing worker loss go terp nate or -- terminate or retired. that is common practice where your colleague goes you pick up their work as you know. for example i am doing work of 17 anchors mysel but in all -- >> you aays do a fantastic job. neil: i like to tell my that but it has
first port workers striking in los angeles and long beach california for 7 days in a row, costing the economy a billion bucks a day, some cool gadgets have you been wanting for christmas they may not make it off of the ships in time. on whether the unions might be going overboard. what is going on here? and what do you see happening? >> i don't know what is going on with unions over the hidays, but i tell you after thanksgiving, and bakers union killed the twinkie. and snarled traffic at...
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it is the economy. lou: it truly is. and i want to also if we may put up the cartoon. we do this very elegantly here. please put up the cartoon. the envelope. i just wanted to see that. it is great. the corner from the nation of achievement, mainstream america usa to the nation of entitlement . i mean, that s to meet not only with the committee is brilliant. can we put that back up? i want to show you something. some might mess in that cartoon. if you look at the stamp in the upper right, and $0.0. it is a food stamp. i have to say, we are looking at a president who is willing, as you know, an assistant on $82 billion of tax increases on the so-called wealthy, the top@ 2%. and that is going to amount to just about nine days, almost nine days a lot bring the federal government's. more and more absurd proportions >> it really is absurd. when you think about it, the deficits cast, over a trillion dollars for the next four years. freckly this will add $80 billion a year. it is nonsense. it is a parody of reality, and the blood is not responsible about their duty is being f
it is the economy. lou: it truly is. and i want to also if we may put up the cartoon. we do this very elegantly here. please put up the cartoon. the envelope. i just wanted to see that. it is great. the corner from the nation of achievement, mainstream america usa to the nation of entitlement . i mean, that s to meet not only with the committee is brilliant. can we put that back up? i want to show you something. some might mess in that cartoon. if you look at the stamp in the upper right, and...
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Nov 29, 2012
11/12
by
FBC
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then of course it does get to be, you know, a hail mary pass for this economy. who better to address on all these issues than pastor rick warren. of course, saddleback church fame. you know it is interesting about the purpose driven life. we're on 10-year anniversary one of the most talked about and successful books i think since the bible. the ref rind is a very modest man -- reverend. the purpose driven life, 32 million copies. by comparison, bill o'reilly's killing lincoln, one of the most popular books in the country right now, 2 million copies. the reverend has sold 16 times the number of books of bill o'reiily, which clearly tells me bill o'reilly is going to hell. "killing kennedy", half a million copies. he is way behind you. all in good fun. pastor, very good to have you. >> thanks, neil. good to be back with you. ironic i'm in new york city and you're in l.a. today so. neil: i know. my loss but our viewers gain just the same. pastor, what do you think, and is it important that a deal is reached by the end of the year? you often remind, you know parishi
then of course it does get to be, you know, a hail mary pass for this economy. who better to address on all these issues than pastor rick warren. of course, saddleback church fame. you know it is interesting about the purpose driven life. we're on 10-year anniversary one of the most talked about and successful books i think since the bible. the ref rind is a very modest man -- reverend. the purpose driven life, 32 million copies. by comparison, bill o'reilly's killing lincoln, one of the most...
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just can't seem to get the economy going. lots of efforts and a ton of help from the state of chicken. why can't you get this back on track? >> like every urban area in the country, we are suffering in the foreclosure. we live and die by property taxes and sales taxes and they are all coming in shorter than anticipated. basically because the property values in detroit. it is starting to pick up in michigan. we just need a little bit more time in order to get our financial house in order. in order to grow our economy. gerri: i have heard that before. we need more time to get our fiscal house in order. wouldn't it make more sense? i know that you are probably playing all kinds of different groups. all kinds of different political groups who want to have their voice heard. wouldn't it make more sense to come in and have the state on this thing -- the thing that we will fix this thing and get it done. >> unfortunately, they can't unilaterally change them. so the financial emergency manager coming into detroit, setting us back a y
just can't seem to get the economy going. lots of efforts and a ton of help from the state of chicken. why can't you get this back on track? >> like every urban area in the country, we are suffering in the foreclosure. we live and die by property taxes and sales taxes and they are all coming in shorter than anticipated. basically because the property values in detroit. it is starting to pick up in michigan. we just need a little bit more time in order to get our financial house in order....
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. >> deal or no deal, i don't think it matters this is just a dog and pony show, the economy is in trouble. lou: thank you very much. appreciate it. on that happy note. >> thank you, lou. lou: what the bleep just happened. thank you. for us that is it good night from new york. neil: influential tea partier jim demint is leaving senate captain, and john boehner removing tea party party from all leadership posts first indicated it. stick a fork in him, the republican party as we know it is dead. i am neil cavuto, allow me to be so blunt to say, what else can you say about a light taken out of the party, republicans who 1 proudly school their tax drowned over decades, seeding that and then some over weeks, only real debate among the grand old party is how much to hike taxes, not if. i did not know they lost their backbone. starting 800 billion in tax hikes to match the president, shouldn't surprise anyone whether we doubled that to $1.6 trillion, that will become the new starts point for the president. new york times and front page story praising john boehner's grip to the party here, appears
. >> deal or no deal, i don't think it matters this is just a dog and pony show, the economy is in trouble. lou: thank you very much. appreciate it. on that happy note. >> thank you, lou. lou: what the bleep just happened. thank you. for us that is it good night from new york. neil: influential tea partier jim demint is leaving senate captain, and john boehner removing tea party party from all leadership posts first indicated it. stick a fork in him, the republican party as we know...
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the economy is slow. we may or may not go over the fiscal cliff but regardless the economy has stalled and taxes are going up. i mean there is certainty. it is just not great certainty. >> you know, as a family-owned business after 91 years being in business we know that there's a business cycle. what we need to continue to advocate for as job creators is the virtue of free enterprise. we need to stand up for the principles that are going to allow us to provide our people employment, to create prosperity. we have to do that in a unified way because, even though the forecast can look bleak at different times, we have an incredibly resilient economy. great job create, out there given the chance which make a big difference. that is what we have to continue working on. melissa: jim, aren't you afraid of being punished either by the public or by the government for speaking out at this point? i mean i have talked privately to people on wall street who have said, you know, they feel like get pistol-whipped when
the economy is slow. we may or may not go over the fiscal cliff but regardless the economy has stalled and taxes are going up. i mean there is certainty. it is just not great certainty. >> you know, as a family-owned business after 91 years being in business we know that there's a business cycle. what we need to continue to advocate for as job creators is the virtue of free enterprise. we need to stand up for the principles that are going to allow us to provide our people employment, to...
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the economy has not been doing well. we cannot do this on our own. gerri: you couldn't really -- you couldn't pay off another loan. >> i don't need another loan. is done as part business decision for me to open up my door's not even knowing it my community is lowwstanding with another low my head. it's not a small business decision that is appropriate to think. gerri: you are not only a small business operator. you have a three year-old. >> of course. mother of sylvia, 3a-year-old. gerri: we're seeing a picture. >> she is called the bagel baby. the customers come and invest about her more than meet. gerri: a family operation. >> of course. mom and my dad and my fiance. we are in there all the time. gerri: there are businesses all over this region who are in the same situation who are facing the same problem. >> oh, of course. this is something widespread. i have spoken to many businesses in the communities that i am friends with our we have reached out to show support for each other. we are all in the same boat. none of us have gotten any help. and i
the economy has not been doing well. we cannot do this on our own. gerri: you couldn't really -- you couldn't pay off another loan. >> i don't need another loan. is done as part business decision for me to open up my door's not even knowing it my community is lowwstanding with another low my head. it's not a small business decision that is appropriate to think. gerri: you are not only a small business operator. you have a three year-old. >> of course. mother of sylvia, 3a-year-old....
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. >> the damage it will do to the economy. i don't think the president has a bigger role as he thinks he is. the house will be held by republicans for the foreseeable future, not just two years. midterm elections, six years, sterile for the president. the end of the day he wants a legacy. it's going to be the highest unemployment in history for two terms it is not careful. he will take us back into recession. if he wants serious negotiations that will sit down and come to some kind of an agreement. we have been down this road before where republicans of given on the taxes. was in the white house with reagan. they promised dollars in cuts. they didn't give us anything. bush went through the same drill when he broke his tax pledge, busch sr. we have had this history before. basically, tell us what you're going to do. there will be a stimulus by fixing the northeast from the storm. add another 50 billion out there on top of the package. and then the audacity of saying, i'm going to raise the debt ceiling whenever i want to. give
. >> the damage it will do to the economy. i don't think the president has a bigger role as he thinks he is. the house will be held by republicans for the foreseeable future, not just two years. midterm elections, six years, sterile for the president. the end of the day he wants a legacy. it's going to be the highest unemployment in history for two terms it is not careful. he will take us back into recession. if he wants serious negotiations that will sit down and come to some kind of an...
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how is business in this economy? let's take a look at some of the winners on the nasdaq. ♪ want to try to crack it? yeah, th's the way to do it! now we need a little bit more... [ male announcer ] at humana, we understand the value of quality time and personal attention. which is why we are proud to partner with health care professionals who understand the difference that quality time with our members can make... that's a very nice cake! ohh! [ giggles ] [ male announcer ] humana thanks the physicians, nurses, hospitals, pharmacists and oth health professionals who helped us achieve the hhest average star rating among national medicare companies... and become the first and only national medicare advantage company to achieve a 5-star rating for a medicare plan... your efforts result in the quality of care and service we're able to provide... which means better health outcomes... and more quality time to share with the ones o matter most. i love you,randma! [ male announcer ] humana. ♪ connell: kobe bryant from the
how is business in this economy? let's take a look at some of the winners on the nasdaq. ♪ want to try to crack it? yeah, th's the way to do it! now we need a little bit more... [ male announcer ] at humana, we understand the value of quality time and personal attention. which is why we are proud to partner with health care professionals who understand the difference that quality time with our members can make... that's a very nice cake! ohh! [ giggles ] [ male announcer ] humana thanks the...
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lou: great news on the economy, will higher taxes screw it up? two of the best economic thinkers join us, deutsche bank senior u.s. correspondents will be here joining us next. detroit on the edge of bankruptcy as city councilwoman with a rather direct, plain spoken solution saying it's simple. the city voted for obama. now obama must bail out mo-town, next. want to try to crack it? yeah, that's the way to do it! n we need a little bit more... [ male announcer ] at humana, we understand the value of quality time and personal attention. which is why we are proud to partner with health care professionals who understand the difference that quality time with our members can make... that's a very nice cake! ohh! [ giggles ] [ male announcer ] humana thanks the physicians, nurses, hospitals, pharmacists and other health professionals who helped achieve the highest average star rating among national medicare companies... and become the first and only national medicare advantage company to achieve a 5-star rating for a medica plan... your effortresult in
lou: great news on the economy, will higher taxes screw it up? two of the best economic thinkers join us, deutsche bank senior u.s. correspondents will be here joining us next. detroit on the edge of bankruptcy as city councilwoman with a rather direct, plain spoken solution saying it's simple. the city voted for obama. now obama must bail out mo-town, next. want to try to crack it? yeah, that's the way to do it! n we need a little bit more... [ male announcer ] at humana, we understand the...
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Nov 30, 2012
11/12
by
FBC
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>> the president has to preside over the economy. from a political point of view, the president has a big microphone, he is better at the pr. >> do you agree? >> hwill be blamed somewhat. a pretty big majority would blame republicans, which is why i think we're seeing some republican movement to accept just rates, they do not want to go off the fiscal cliff, they think they will be blamed. neil: do you get t feeling that i do, this is kabuki theater, and president with his overtured on rate level, and what they would be, now talking about some spending as part of the deal, that was all factored in. he has just been doing it in stages, we'll get a deal. do you think that is going to happen? >> i think it is a responsible approach. we have to get a dial. this is not a democrat issue or a republican issue, this is an american issue, we know we have to cut spending and we know there has to be some solution. at the end of the day we have on grow the economy. only way out of this thing. >> i think we'll get a deal, i'm not convinced to be
>> the president has to preside over the economy. from a political point of view, the president has a big microphone, he is better at the pr. >> do you agree? >> hwill be blamed somewhat. a pretty big majority would blame republicans, which is why i think we're seeing some republican movement to accept just rates, they do not want to go off the fiscal cliff, they think they will be blamed. neil: do you get t feeling that i do, this is kabuki theater, and president with his...
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if we get forced austerity on the economy and we go over what is called the cliff, we will not stay over that cliff very long. he will not worry about what happens to the debt ceiling. i think you have a mixture here. what is that almost looks good. less spending, more income. liz: gold, of course, which was down $25. ended down on the session. you also make the point over stocks overall. is this all apple and sort of the paul because of the samsung problems. >> even though apple is getting smashed today. when you consider how much apple is part of the s&p 500, it just speaks to the strength that we have. about 11:00 o'clock, we had that sharp turn up. i think a lot of that had to do with some of the noises we were hearing out of china. take a look at that etf. that is very strong. one other sector i want to put everybody on to is utilities. utilities are very strong today for a couple of reasons. they really lagged the s&p in november. some of the noises that are we are starting to hear out of the fiscal cliff discussions mailing the rates where they are. that will, of course help utili
if we get forced austerity on the economy and we go over what is called the cliff, we will not stay over that cliff very long. he will not worry about what happens to the debt ceiling. i think you have a mixture here. what is that almost looks good. less spending, more income. liz: gold, of course, which was down $25. ended down on the session. you also make the point over stocks overall. is this all apple and sort of the paul because of the samsung problems. >> even though apple is...
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Nov 29, 2012
11/12
by
FBC
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economy expanded at an annual rate of 2.7%. and that's better than the original 2% even that was reported a couple of weeks ago and last week, there were 393,000 new claims for jobless benefits and down from the previous week, but you're still very close to the 400,000 per week mark and that's a sign of weakness, albeit, come of that clearly from the storm, that's still not a healthy vigorous rebound, is it? trading has begun this thursday morning. we're expecting the dow to go up 50, 60 points and that's in part because of the fiscal cliff debate and looks like the president won taxes now, promises of entitlement reform later and don't care about the debt. the market kind of likes that, because the money keeps flowing. in the first part of business, we're flat, i thought more than that, we're up 2, 10 points and going up from here, at least in the early going. now, we've got another big name that you know #, trying to help shareholders avoid higher taxes next year, it's disney and increased the cash dividend by 25% and paying
economy expanded at an annual rate of 2.7%. and that's better than the original 2% even that was reported a couple of weeks ago and last week, there were 393,000 new claims for jobless benefits and down from the previous week, but you're still very close to the 400,000 per week mark and that's a sign of weakness, albeit, come of that clearly from the storm, that's still not a healthy vigorous rebound, is it? trading has begun this thursday morning. we're expecting the dow to go up 50, 60 points...
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i want the best policy which will grow america's economy and give us some prosperity. and my judgment is very clear. the best way to do that is to lower tax rates, restrict deductions. that's i think how you do it. >> yeah. stuart: i agree that that plan was defeated in the last election. can you make the economic judgment, what do you think is the best way to give us growth? >> well, i'm not an economist. i don't think that raising -- putting the tax rates back to the clinton level -- clinton era level is going to harm the economy. but if you could not raise taxes and you could make it up another way, i do think that's the better way to go. and, you know, i think the president is now appealing a little bit to the base on insisting on it has to be the tax rates, when he should be open to -- and maybe he will be -- this could just be a negotiating tactic, he should be open to the idea of closing loopholes eliminating deductions and making up the revenue in another way. stuart: i was right. >> you're very sensitive to drifting. stuart: i have never been described as sens
i want the best policy which will grow america's economy and give us some prosperity. and my judgment is very clear. the best way to do that is to lower tax rates, restrict deductions. that's i think how you do it. >> yeah. stuart: i agree that that plan was defeated in the last election. can you make the economic judgment, what do you think is the best way to give us growth? >> well, i'm not an economist. i don't think that raising -- putting the tax rates back to the clinton level...
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you don't raise taxes when the economy's struggling. we were growing at a clip of 5.6% of gdp growth, and today, it's less than 2%, and he's making the saim argument. lou: thank you. greato have you here. more on the cliff, stalled negotiations, and, of course, ever-lasting hope straight ahead. syria and the fiscal cliff. they share two things in common. they are subjects of an obama ultimate may tum and -- ultimatum and the a-team tonight. >> three, two, one! [cheers and applause] lou: state of washington celebrating the passage of two ballot initiatives. why pot heads gathered at the space needle ineattle next. the fiscal cliff 25 days away, a leading conservative senator unexpectedly resigns, and we'll take that up with his friend and colleague, congressman trey here next. lou: a big surprise today in washington. senator jim demint of south carolina announcing he will resign his senate seat? january to take over the leadership of the think tank, the conservative think tank, the heritage foundation. earlier, the snator criticized boeh
you don't raise taxes when the economy's struggling. we were growing at a clip of 5.6% of gdp growth, and today, it's less than 2%, and he's making the saim argument. lou: thank you. greato have you here. more on the cliff, stalled negotiations, and, of course, ever-lasting hope straight ahead. syria and the fiscal cliff. they share two things in common. they are subjects of an obama ultimate may tum and -- ultimatum and the a-team tonight. >> three, two, one! [cheers and applause] lou:...
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you want to flirt with putting the economy into recession? have at it. >> that is essentially what the white house is up to right now. they said, in an era where americansment compromise, the president not compromising, this is what i want, and for that political agenda, i'm willing to go over the cliff. the secretary of treasury, the highest economic officer in the land said, oh, yeah, we're prepared to go over the cliff. that's telling the american people we don't care about the recession, unemployment that creates, we have an agenda, and that's more important. gerri: the k0*s of that could be the lost of 700,000 jobs, up to 2 million jobs, a recession, everybody predicts that. i want to talk to you, though, about the debt limit. we talked about that for a few minutes. an economist at moody's advising the president over a number of years had this to say about getting rid of the debt ceiling limit. we need to get rid of the ceiling law, it's a problem. what do you say to that? >> it's from a hundred years ago, and it was put there for a reas
you want to flirt with putting the economy into recession? have at it. >> that is essentially what the white house is up to right now. they said, in an era where americansment compromise, the president not compromising, this is what i want, and for that political agenda, i'm willing to go over the cliff. the secretary of treasury, the highest economic officer in the land said, oh, yeah, we're prepared to go over the cliff. that's telling the american people we don't care about the...
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i'm worried about stalling the economy. in the meantime when we talk about raising taxes and what it would do to small business. democrats like to point out we would only raise taxes on 3% of small business owners. >> right. melissa: but that 3% generates 50% of the income from small business. so they're hiring the majority of people. to me that is going to cost us jobs. >> well, you know what? i think that what will cost us jobs for sure is if we go off thissfiscal cliff, because it is not just about raising tacks. it is also about the debt ceiling. it is about unemployment insurance. we have number of key issues that absolutely have to be resolved byythe end of the month. i want to tell you something, in spite of what it might look i'm actually optimistic i think this is the way negotiations happen. melissa: you are? >> in the political world, i am, i am. in the political world, you know 30 days is a lifetime. and so i believe that we will reach agreement. now what i don't believe will happen i don't believe we'll solve a
i'm worried about stalling the economy. in the meantime when we talk about raising taxes and what it would do to small business. democrats like to point out we would only raise taxes on 3% of small business owners. >> right. melissa: but that 3% generates 50% of the income from small business. so they're hiring the majority of people. to me that is going to cost us jobs. >> well, you know what? i think that what will cost us jobs for sure is if we go off thissfiscal cliff, because...
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no, i'm not making a call like that on the economy. i'm saying the market could back up that amount in a worst case scenario if it gets contentious in the next few weeks. but unlike the others, i do think they will come to an agreement. i do think right now you're seeing the negotiating process play out, and when you have this play out, the market that's already run up, i think we could go sideways and trade like we did today. today wasn't disastrous. volume was very light. yeah, we went out on the lows, we had some negative economic data points, and i think that's what we're in for until we get some clarity on what happens with the cliff. >> all right, charlie, folks have got to put their money to work somewhere, you think the back half of 2013 will be strong. what stocks do you like today that could prosper later on? >> well, i think some of the aerospace names have, you know, air traffic continues to grow around the world. the fleets are old. the replacement cycle is going strong. boeing just announced that they're going to take the
no, i'm not making a call like that on the economy. i'm saying the market could back up that amount in a worst case scenario if it gets contentious in the next few weeks. but unlike the others, i do think they will come to an agreement. i do think right now you're seeing the negotiating process play out, and when you have this play out, the market that's already run up, i think we could go sideways and trade like we did today. today wasn't disastrous. volume was very light. yeah, we went out on...
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in economics and if the economy is moving one way or another like china you might see copper moving lower but for the moment it needs to be that one area that sees a little strength. in terms of the broader market let's look at stocks would fall as a classes covered for you. it is a mixed bag. you can see microsoft straddling the flat wine. otherwise mcdonald's moving higher, banc of america, decent tech names like hewlett-packard flexing their muscles as well. hewlett-packard jumping 3%, $0.56, bottom fishing going on there, some of the story and until up nearly 2%, verizon and at&t are the weak links along with jpmorgan chase. traders at the stock exchange, cme group and nynex, gold traded as well, when gold dropped $26 overnight and continues through the day what was it like, floor? >> those guys were pretty busy today but $26 is not a huge move for $1,700 product. but clearly something is going on. liz: if it goes below $1,700 which is one of those levels gold bugs look at, that becomes a big deal. >> people have a love affair with round numbers. they get infected, $90 crude or $70 go
in economics and if the economy is moving one way or another like china you might see copper moving lower but for the moment it needs to be that one area that sees a little strength. in terms of the broader market let's look at stocks would fall as a classes covered for you. it is a mixed bag. you can see microsoft straddling the flat wine. otherwise mcdonald's moving higher, banc of america, decent tech names like hewlett-packard flexing their muscles as well. hewlett-packard jumping 3%,...
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you don't raise taxes when the economy's struggling. we were growing at a clip of 5.6% of gdp growth, and today, it's less than 2%, and he's making the saim argument. lou: thank you. great to have you here. more on the cliff, stalled negotiations, and, of course, ever-lasting hope straight ahead. syria and the fiscal cliff. they share two things in common. they are subjects of an obama ultimate may tum and -- ultimatum and the a-team tonight. >> three, two, one! [cheers and applause] lou: state of washington celebrating the passage of two ballot initiatives. why pot heads gathered at the space needle in seattle next. the fiscal cliff 25 days away, a leading conservative senator unexpectedly resigns, and we'll take that up with his friend and colleague, congressman trey here next. want to try to crack it? yeah, that's the way to do it! now we need a little bimore... [ male announcer ] at humana, we understand the value of quality time and personal attentio which is why we are proud to partner with health care professionals who understand
you don't raise taxes when the economy's struggling. we were growing at a clip of 5.6% of gdp growth, and today, it's less than 2%, and he's making the saim argument. lou: thank you. great to have you here. more on the cliff, stalled negotiations, and, of course, ever-lasting hope straight ahead. syria and the fiscal cliff. they share two things in common. they are subjects of an obama ultimate may tum and -- ultimatum and the a-team tonight. >> three, two, one! [cheers and applause] lou:...
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it is good for the economy. tracy: coming up, is microsoft asking for trouble with its surface tablet which many say is way too pricey. shibani joshi is on that next. dennis: first, as we do every day, let's take a look at treasuries. ♪ want to try to crack it? yeah, th's theay to do it! now we need a little bit more... [ le announcer ] at humana, we understand the value of quality time and personal attention. which is why we are proud to partner with health care professionals who understand the difference that quality time with our members can make... that's a ve nice cake! ohh! [ giggles ] [ male announcer ] humana thanks the physicians, nurses, hospitals, pharmacists and other health professionals who helped us achieve the highest average star rating among national medicare companies... and become the first and only national medicare advantage company to achieve a 5-star rating for a medire plan... yr efforts result in the quality ofare and service we're able to provide... which mes better health outcomes..
it is good for the economy. tracy: coming up, is microsoft asking for trouble with its surface tablet which many say is way too pricey. shibani joshi is on that next. dennis: first, as we do every day, let's take a look at treasuries. ♪ want to try to crack it? yeah, th's theay to do it! now we need a little bit more... [ le announcer ] at humana, we understand the value of quality time and personal attention. which is why we are proud to partner with health care professionals who understand...
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Nov 29, 2012
11/12
by
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that will hurt our economy and cost american jobs. republicans have taken action to revert the fiscal cliff. to replace the sequestered and paid way for tax reform and entitlement reform. we are the only ones with a balanced plan to protect the economy, protect american jobs and protect the middle class from the fiscal cliff. without spending cuts and entitlement reform, it will be impossible to address our countries debt crisis and get our economy going again and create jobs. right now, all eyes are on the white house. our country does not need a victory lap, it needs leadership. it is time for the president and congressional democrats to tell the american people what spending cuts they are really going to make. with that, i will take a few questions. [inaudible question] >> we have outlined very specific proposals that we passed in last year's budget and the budget before. we know what the venue is. what we do not know is what the white house is willing to do to get serious about solving our debt crisis. [inaudible question] >> i am
that will hurt our economy and cost american jobs. republicans have taken action to revert the fiscal cliff. to replace the sequestered and paid way for tax reform and entitlement reform. we are the only ones with a balanced plan to protect the economy, protect american jobs and protect the middle class from the fiscal cliff. without spending cuts and entitlement reform, it will be impossible to address our countries debt crisis and get our economy going again and create jobs. right now, all...
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but remember that the resolution is bearish for the economy. we will be cutting back on government spending, and we will be taxing more. that is bearish for the economy at the margin. david: all right. let's hope they do come to some kind of resolution. good to see you, gentlemen. liz: that was a great discussion, guys, thank you. david: well, the debt battle is waging on in d.c. even with most of the house out of town right now. they're gone until next tuesday. we're going to be heading to d.c. for the very latest. liz: choice hotels, known for comfort inns and quality inns is expanding their brand right here in america. why now? we'll ask ceo and president steve joyce about that and moving up the dividend payout to before the end of the year. david: but, first, on fox business the ceo of tmx group, this is the parent of the toronto stock exchange. you've heard about how the banks in the canada avoided a lot of the subprime mess that our banks got into it. well, the banks getting involved directly in the stock market. tom is going to tell us h
but remember that the resolution is bearish for the economy. we will be cutting back on government spending, and we will be taxing more. that is bearish for the economy at the margin. david: all right. let's hope they do come to some kind of resolution. good to see you, gentlemen. liz: that was a great discussion, guys, thank you. david: well, the debt battle is waging on in d.c. even with most of the house out of town right now. they're gone until next tuesday. we're going to be heading to...
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if the economy is great --. ashley: so difficult to trade in this environment right now. >> it is so difficult to trade. people have to be very aware. that is the key word you use, trade. do you want to be a trader or do you want to be an investor? so many people tell me, charles, i don't want to be trader. they buy at 30, goes to 28.04, oh, my god i need to sell it, i'm losing my shirt!. what the heck. i thought you didn't want to be a trader? one of the reasons i'm getting a little bit bullish about the market in general. i'm a individual stock guy. i don't like to do the macro thing. i like the way the market acts. we've seen a shaking out of the weak sisters. we had the market pull back sharply. we saw the pullback in apple. weak holders of stocks, weak sisters have for the most part been shaken out. it would take disasterous news --. ashley: talking about disaster, what if we went over the cliff? >> if we did go over the cliff and saw the market pull back sharply i would look to be a buyer on the pullback.
if the economy is great --. ashley: so difficult to trade in this environment right now. >> it is so difficult to trade. people have to be very aware. that is the key word you use, trade. do you want to be a trader or do you want to be an investor? so many people tell me, charles, i don't want to be trader. they buy at 30, goes to 28.04, oh, my god i need to sell it, i'm losing my shirt!. what the heck. i thought you didn't want to be a trader? one of the reasons i'm getting a little bit...
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the fiscal cliff potentially sending the economy into recession. the fear of the cliff. is that putting a veil over your eyes and pretending you seeing good news that could make better trades for your portfolio? you need to see the forest for the trees. to help do that, liz saunders in a fox business exclusive, charles schwab's vice president and chief investment strategist. what is the biggest mistake that the investor is making right now as it pertains to navigating that very rocky fiscal cliff landscape? >> they are trying to trade around perceived outcomes. that is fairly treacherous. we don't get a sense that a lot of investors are doing that -- [talking over each other] liz: there were buying in on the dips because they are trading around he headlines. >> there's a lot of tax related strategy happening right now, many of which make a lot of sense, but i have asked the question of loss, what would you put money on a particular outcome? i wouldn't. that is a dangerous strategy. >> one scenario could be as damaging as another. we can gain that at this point, what shou
the fiscal cliff potentially sending the economy into recession. the fear of the cliff. is that putting a veil over your eyes and pretending you seeing good news that could make better trades for your portfolio? you need to see the forest for the trees. to help do that, liz saunders in a fox business exclusive, charles schwab's vice president and chief investment strategist. what is the biggest mistake that the investor is making right now as it pertains to navigating that very rocky fiscal...
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we are really looking at an economy that is weak. ooly thing keeping keeping consumer spending going is that households have been prepared to cut back on their savings rate to such a low level that i do not think there is more room or that in 2013. lori: there are bright spots on the economy. you have to point to housing. the auto sales numbers that came out today, pretty good. especially ford. holiday sales have been better than expected, as well. >> the housing is the big number. it has definitely turned the corner. it is coming at such a low base that it really is not doing much for gdp growth. we just got the gdp numbers last week. we had residential investment of 14% in real terms. very good. what does it add to gdp, three tenths of 1%. we are coming from such a lopez that it just does not do much for the overall growth rate. lori: is there anything that can be done that we will avoid a recession altogether? >> not just a small down payment with a big? halfway through next year. i think another thing that can be done is to do th
we are really looking at an economy that is weak. ooly thing keeping keeping consumer spending going is that households have been prepared to cut back on their savings rate to such a low level that i do not think there is more room or that in 2013. lori: there are bright spots on the economy. you have to point to housing. the auto sales numbers that came out today, pretty good. especially ford. holiday sales have been better than expected, as well. >> the housing is the big number. it has...
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there are lots of ways to raise revenues without doing harm to the economy. lori: i have got to interrupt you here, why is the president so insistent upon raising tax rates for the wealthy? if you are point we don't necessarily have to do that to get meaningful revenues. melissa: it seems like religious or political on is part. this is a matter of an article of faith on the part of democrats and liberals to get rid of the bush tax cuts for the wealthy. they campaigned on it for more than 10 years now since it was enacted in the bush administration. they want to get rid of it. they ought to understand those are some of the most harmful economic ways of increasing revenues for the fiscal government. they ought to look for things that promote growth, not harm growth. lori: you laid it out. research rnc credits that will perhaps stop spending money on r&d until they get a firm idea of the credits they are entitled to. do you think this economy which is so fragile, weak jobs numbers, probably another bad one on friday. however as are we for going into a contractio
there are lots of ways to raise revenues without doing harm to the economy. lori: i have got to interrupt you here, why is the president so insistent upon raising tax rates for the wealthy? if you are point we don't necessarily have to do that to get meaningful revenues. melissa: it seems like religious or political on is part. this is a matter of an article of faith on the part of democrats and liberals to get rid of the bush tax cuts for the wealthy. they campaigned on it for more than 10...
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Nov 29, 2012
11/12
by
FBC
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lou: he did gain control of let's sixth of the economy with the obamacare committed to? i mean, he did pass some subset of regulation of our financial industry in this country. you're not exactly easg concerns, hearts are worried about what the republicans are going to be able to do. by te way, i want to make it very clear. a personho supports entirely the idea of low taxes and maintaining that posture and certainly ing so energetically if there is no quid pro quo, significant order in spending. but what in the world by these folks to do on capitol hill? >> here is my argument. the first thing the republicans need to do is insist that the negotiations be in front of c-span so that the american people can see what obama is and is not doing until that happens, obaa can keep misrepresenting what is going on. second, they need to say %-to be on line for even dayseds said that the american people can read it. we have those two things, the chances of being completely jammed is a greatly educed, not down to zero, but let's get c-span cameras there. lou: i think your condition w
lou: he did gain control of let's sixth of the economy with the obamacare committed to? i mean, he did pass some subset of regulation of our financial industry in this country. you're not exactly easg concerns, hearts are worried about what the republicans are going to be able to do. by te way, i want to make it very clear. a personho supports entirely the idea of low taxes and maintaining that posture and certainly ing so energetically if there is no quid pro quo, significant order in...
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surprised if that wasn't going on because the magnitude of what this means to this country and the economy of this country is so profound that i would be shocked if, that there is --. melissa: well, i don't know. you're going back to giving them a lot of credit. i'm not sure i'm willing to go there with you. what do you think of tte fact both sides come out instantly after an offer is that it is terrible? president obama was out here, blink of the eye after republicans came out with their plan to say this is not in the spirit. >> today you're talking about? melissa: yeah, today. what does that tell you? should we read anything into that or is that -- >> again i will liken it to there are plenty of people far more educated on this than i but from a negotiation standpoint i think again it is a lot about posturing. sending out your feelers. melissa: right. >> and seeing what the other side's response is to that and kind of figuring out what's the quasi-middle kbround. melissa: yeah. >> that is what the president is doing here, saying this isn't in the spirit what we're trying to accomplish. m
surprised if that wasn't going on because the magnitude of what this means to this country and the economy of this country is so profound that i would be shocked if, that there is --. melissa: well, i don't know. you're going back to giving them a lot of credit. i'm not sure i'm willing to go there with you. what do you think of tte fact both sides come out instantly after an offer is that it is terrible? president obama was out here, blink of the eye after republicans came out with their plan...
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Nov 30, 2012
11/12
by
FBC
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the economy is growing strongly. also because one thing newt gingrich got right, is so-called fiscal cliff is not a click. it is more like a fiscal bunny hill. therris automatic tax increases and automatic ending cuts would amount to 250 a year. >> the spending cuts he would put on the table, number two, i am from the school of thought of importance. we should let president obama bought the fiscal cliff and we should stop - [inaudible] lou: we will be back with the "a-team." i would like to explore this bunny hill thing as a metaphor for the fiscal cliff. for the fiscal cliff. it is a great relief you know how painful heartburn can be. for fast, long lasting relief, use doctor recommended gaviscon®. only gaviscon® forms a protective barrier that helps block stomach acid from splashing up- relieving the pain quickly. try fast, long lasting gaviscon®. now we need a little bit more... [ male announcer ] at humana, we understand the value of quality time and personal atteion. which is why we are proud to partner with
the economy is growing strongly. also because one thing newt gingrich got right, is so-called fiscal cliff is not a click. it is more like a fiscal bunny hill. therris automatic tax increases and automatic ending cuts would amount to 250 a year. >> the spending cuts he would put on the table, number two, i am from the school of thought of importance. we should let president obama bought the fiscal cliff and we should stop - [inaudible] lou: we will be back with the "a-team." i...
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>> well it is supposed to be going to the cutting-edge of the economy. small business creation. you had a piece on this earlier. it is not going there we're at the slowest rate of any recession since world war ii in small business formation. the slowest possible rate --. david: i want to stop you right here. i've been going you there the numbers and i've been trying to figure this out. i've really been trying to figure it out. how did that 25% increase in government expenditures, huge increase, we haven't seen an increase like that since world war ii, how did that become permanent? how did it go from being a one-shot deal, the stimulus in two thooin -- 2009, tt being part of the baseline budget? >> that is the way it workings in washington, david, you know that. once congress puts in place a spending increase, they reappropriate it, build into the baseline and do it before. construction projects need to be expanded. right across the street from the particular studio we have a big train station, union station. a construction project going on three years, all stimulus money. will
>> well it is supposed to be going to the cutting-edge of the economy. small business creation. you had a piece on this earlier. it is not going there we're at the slowest rate of any recession since world war ii in small business formation. the slowest possible rate --. david: i want to stop you right here. i've been going you there the numbers and i've been trying to figure this out. i've really been trying to figure it out. how did that 25% increase in government expenditures, huge...